DOW JONES NEWSWIRES
Newell Rubbermaid Inc. (NWL) Chief Financial Officer Pat
Robinson will retire early at the end of this year, ending a tenure
that President and Chief Executive Mark Ketchum said was marked by
leading the company's transformation in the last several years.
The consumer-goods maker has slashed production and jobs in the
recession to offset a decline in sales, as shoppers opt for
lower-cost and private-label brands. Beyond its namesake line,
Rubbermaid owns Sharpie and Paper Mate pens and Calphalon cookware,
among other products.
The 54-year-old Robinson has served as Rubbermaid's CFO for six
years, having previously held the title at a mobile applications
provider before joining Rubbermaid in May 2001 as controller. He
also worked for Black & Decker Corp. (BDK) for 18 years.
Rubbermaid posted an increase in second-quarter profit on lower
restructuring costs and higher margins, though sales were still
down. Last month, Rubbermaid said it reduced its debt by $250
million as it closed a new $200 million accounts-receivable
facility to replace a $450 million credit line.
Rubbermaid shares fell 13 cents to $14.90 recently.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com
